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The post-investment salary rule is something a lot of people trip over, but it's important. The rule is simple: Pay yourself enough that you're not thinking ab
by sunir 16y ago
The post-investment salary rule is something a lot of people trip over, but it's important. The rule is simple:
Pay yourself enough that you're not thinking about taking a part-time job to support yourself (and your family). You should be able to focus on the startup without financial distraction.
You don't need money to put into savings. You don't need a fancy car. You don't need fine dining. You're sacrificing now for the chance at big upside later. Every dollar you waste on yourself is hurting your chances of bigger success.
- dpapathanasiou 16y agoYou don't need money to put into savings. I was with you except for that; having savings is important, especially if the company fails.
- joshuacc 16y agoI think he meant that you don't need to be putting current income into savings.
- dedward 16y agoIt's a matter of financial opinion I think - putting a percentage of your income, whatever that's a little or a lot, into your long-term savings should be a mandatory thing for most people - like food and shelter. It's money you never touch - it need not be a lot, but it's not something you should simply stop doing just because you're cutting corners - it's more important in the long run than people often give it credit for.